| Description of Business and Significant Accounting Policies | Organization RumbleON, Inc. (the “Company”) was
incorporated in October, 2013 under the laws of the State of Nevada, as Smart Server, Inc. (“Smart Server”). On February
13, 2017, the Company changed its name from Smart Server, Inc. to RumbleON, Inc. Description of Business Smart Server was formed to engage
in the business of designing and developing computer application software for smart phones and tablet computers (“mobile
payment application”) to provide customers at participating restaurants, bars, and clubs the ability to pay their bill with
their smartphone without having to ask for the check. Smart Server ceased its software development activities in 2014 and, having
no operations and no or nominal assets, met the definition of a "shell company" under the Securities Exchange Act of
1934, as amended, and the rules and regulations thereunder. In July 2016, Berrard Holdings Limited Partnership
("Berrard Holdings") acquired 99.5% of the common stock of Smart Server from the prior owner of such shares and efforts
began on the development of a unique, capital light, and disruptive e-commerce platform facilitating the ability of both consumers
and dealers to Buy-Sell-Trade-Finance pre-owned recreation vehicles. It is our goal to have the platform recognized as the most
trusted and effective solution for the sale, acquisition, and distribution of recreation vehicles and provide users an efficient,
fast, transparent, and engaging experience. Our initial focus is the market for 650cc and larger on road motorcycles, particularly
those concentrated in the Harley Davidson brand; we will look to extend to other brands and additional vehicle types and products
as the platform matures. RumbleON intends to both make consumers or dealers
a cash offer for the purchase of their vehicle and provide them the flexibility to trade, list, consign, or auction their vehicle
through the websites and mobile apps of RumbleON and our partner dealers. In addition, RumbleON will offer a large inventory of
vehicles for sale on its website and will offer financing and associated products. RumbleON will earn fees and transaction income,
and partner dealers will earn incremental revenue and enhance profitability through increased sales leads, and fees from inspection,
reconditioning and distribution programs. RumbleON will be driven by a proprietary technology platform that was acquired on February
8, 2017 from NextGen Dealer Solutions, LLC. The NextGen platform provides integrated accounting, appraisal, inventory management,
CRM, lead and call center management, equity mining, and other key services necessary to drive the online marketplace. For additional
information, see Note 11 “Subsequent Events.” As of December 31, 2016, the Company had a total
of $1,350,580 in available cash. If we were to not receive any additional funds, we could not continue in business for the next
12 months with our currently available capital. Since inception, we have financed our cash flow requirements through debt and equity
financing. As we expand our activities, we may, and most likely will, continue to experience net negative cash flows from operations,
pending the Company’s ability to generate sustainable cash flow from the implementation of its business strategy and utilization
of its e-commerce platform. Year end In October 2016, the Company changed its
fiscal year-end from November 30 to December 31. Use of Estimates The preparation of financial statements in conformity
with GAAP requires estimates and assumptions that affect the reported amounts of assets and liabilities, revenue and expenses,
and related disclosures of contingent assets and liabilities in the consolidated financial statements and accompanying notes. Estimates
are used for, but not limited to, inventory valuation, depreciable lives, carrying value of intangible assets, sales returns, receivables
valuation, restructuring-related liabilities, taxes, and contingencies. Actual results could differ materially from those estimates. Earnings (Loss) Per Share The Company follows the FASB Accounting Standards
Codification (“ASC”) Topic 260- Earnings per share Revenue Recognition We recognize revenue when all of the following
conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the product or service has been provided
to the customer; (3) the amount to be paid by the customer is fixed or determinable; and (4) the collection of our payment
is probable. Purchase Accounting for Business Combinations The Company will account for acquisitions by
allocating the fair value of the consideration transferred to the fair value of the assets acquired and liabilities assumed on
the date of the acquisition and any remaining difference will be recorded as goodwill. Adjustments may be made to the preliminary
purchase price allocation when facts and circumstances that existed on the date of the acquisition surface during the allocation
period subsequent to the preliminary purchase price allocation, not to exceed one year from the date of acquisition. Contingent
consideration is recorded at fair value based on the facts and circumstances on the date of the acquisition and any subsequent
changes in the fair value are recorded through earnings each reporting period. Transactions that occur in conjunction with or subsequent
to the closing date of the acquisition are evaluated and accounted for based on the facts and substance of the transactions. Goodwill Goodwill is not amortized but rather tested for
impairment at least annually. The Company will test goodwill for impairment annually during the fourth quarter of each year. Goodwill
will also be tested for impairment between annual tests if an event occurs or circumstances change that would more likely than
not reduce the fair value of the reporting unit below its carrying amount. Impairment testing for goodwill will be done at
the reporting unit level. A reporting unit is an operating segment or one level below an operating segment (also known as a component).
A component of an operating segment is a reporting unit if the component constitutes a business for which discrete financial information
is available, and segment management regularly reviews the operating results of that component. The Company has concluded
that currently it has one reporting unit. Determining fair value includes the use of significant
estimates and assumptions. Management will utilize an income approach, specifically the discounted cash flow technique as
a means for estimating fair value. This discounted cash flow analysis requires various assumptions including those about future
cash flows, transactional and customer growth rates and discount rates. Expected cash flows are based on historical customer growth
and the growth in transactions, including attrition, future strategic initiatives and continued long-term growth of the business.
The discount rates used for the analysis will reflect a weighted average cost of capital based on industry and capital structure
adjusted for equity risk and size risk premiums. These estimates can be affected by factors such as customer and transaction growth,
pricing, and economic conditions that can be difficult to predict. Other Assets Included in “Other Assets” on our
balance sheet will be identifiable intangible assets including customer relationships, non-compete agreements, trademarks, trade
names and internet domain names, net of amortization. The estimated fair value of these intangible assets at the time of acquisition
will be based upon various valuation techniques including replacement cost and discounted future cash flow projections. Customer
relationships will be amortized on a straight-line basis over the expected average life of the acquired accounts, which will be
based upon several factors, including historical longevity of customers and contracts acquired and historical retention rates.
Non-compete agreements will be amortized on a straight-line basis over the term of the agreement, which will generally not exceed
five years. The Company will review the recoverability of these assets if events or circumstances indicate that the assets may
be impaired and will periodically reevaluate the estimated remaining lives of these assets. Trademarks, trade names and internet domain names
are considered to be indefinite lived intangible assets unless specific evidence exists that a shorter life is more appropriate.
Indefinite lived intangible assets will be tested, at a minimum, on an annual basis using an income approach or sooner whenever
events or changes in circumstances indicate that an asset may be impaired. Long-Lived Assets Fixed assets will be reviewed for impairment
when events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable.
Recoverability of assets to be held and used will be measured by a comparison of the carrying amount of an asset to the future
net cash flows expected to be generated by the asset. If such assets or asset groups are considered to be impaired, the impairment
to be recognized will be measured by the amount by which the carrying amount of the assets or asset groups exceeds the related
fair values. The Company will also perform a periodic assessment of the useful lives assigned to the long-lived assets. Inventories Inventories will be stated at the lower of cost
or market. Valuation Allowance for Accounts Receivable We will estimate the allowance for doubtful accounts
for accounts receivable by considering a number of factors, including overall credit quality, age of outstanding balances, historical
write-off experience and specific account analysis that projects the ultimate collectability of the outstanding balances. Ultimately,
actual results could differ from these assumptions. Cash and Cash Equivalents For the statements of cash flows, all highly
liquid investments with an original maturity of three months or less are considered to be cash equivalents. The carrying value
of these investments approximates fair value. Marketing and Advertising Costs Marketing costs primarily consist of targeted
online advertising, television advertising, public relations expenditures, and payroll and related expenses for personnel engaged
in marketing and selling activities and will be expensed as incurred. There were no marketing costs included in general and administrative
expenses for the year ended December 31, 2016, for the month ended December 31, 2015 and for the year ended November 30, 2015. Technology and Content Technology costs for the RumbleON
technology platform will be accounted for pursuant to ASC Topic 350- Intangibles — Goodwill and Other The costs associated with the development of
the Smart Server mobile payment application website were capitalized pursuant to ASC Topic 350- Intangibles — Goodwill
and Other. Property and Equipment, Net Property and equipment will be stated at cost
less accumulated depreciation. Equipment will include assets such as furniture and fixtures, heavy equipment, servers, networking
equipment, internal-use software and website development. Depreciation will be recorded on a straight-line basis over the estimated
useful lives of the assets. Fair Value of Financial Instruments Fair value estimates discussed herein are based
upon certain market assumptions and pertinent information available to management as of December 31, 2016, December 31, 2015 and
November 30, 2015. The respective carrying value of certain on-balance-sheet financial instruments approximated their fair values.
These financial instruments include cash, prepaid expenses and accounts payable. Fair values were assumed to approximate carrying
values for cash and payables because they are short term in nature and their carrying amounts approximate fair values or they are
payable on demand. ASC Topic 820-10-30-2 Fair Value Measurement
Level 1: The preferred inputs to valuation efforts
are "quoted prices in active markets for identical assets or liabilities," with the caveat that the reporting entity
must have access to that market. Information at this level is based on direct observations of transactions involving the same assets
and liabilities, not assumptions, and thus offers superior reliability. However, relatively few items, especially physical assets,
actually trade in active markets. Level 2: FASB acknowledged that active
markets for identical assets and liabilities are relatively uncommon and, even when they do exist, they may be too thin to
provide reliable information. Inputs other than quoted market prices included in Level 1, they are observable for the asset
of liability, either directly or indirectly, are Level 2 inputs. Level 3: If inputs from levels 1 and 2 are not
available, FASB acknowledges that fair value measures of many assets and liabilities are less precise. The board describes Level
3 inputs as "unobservable," and limits their use by saying they "shall be used to measure fair value to the extent
that observable inputs are not available." This category allows "for situations in which there is little, if any, market
activity for the asset or liability at the measurement date". Earlier in the standard, FASB explains that "observable
inputs" are gathered from sources other than the reporting company and that they are expected to reflect assumptions made
by market participants. Beneficial Conversion Feature From time to time, the Company may issue convertible
notes that may have conversion prices that create an embedded beneficial conversion feature pursuant to the guidelines established
by the ASC Topic 470-20, Debt with Conversion and Other Options The BCF of a convertible note is measured by
allocating a portion of the note's proceeds to the conversion feature, if applicable, and as a reduction of the carrying amount
of the convertible note equal to the intrinsic value of the conversion feature, both of which are credited to additional paid-in-capital.
The debt discount is amortized to interest expense over the life of the note using the effective interest method. The Company calculates
the fair value of the conversion feature embedded in any convertible security using either a) the Black Scholes valuation model,
or b) a discount cash flow analysis tested for sensitivity to key Level 3 inputs using Monte Carlo simulation. Stock-Based Compensation The Company records stock based compensation
in accordance with the guidance in ASC Topic 505- Equity Compensation, Stock Expense The Company accounts for equity instruments
issued in exchange for the receipt of goods or services from other than employees in accordance with ASC 718-10 and the
conclusions reached by the ASC Topic 505-50. Costs are measured at the estimated fair market value of the consideration
received or the estimated fair value of the equity instruments issued, whichever is more reliably measurable. The value of
equity instruments issued for consideration other than employee services is determined on the earliest of a performance
commitment or completion of performance by the provider of goods or services as defined by ASC Topic 505-50. Income Taxes The Company follows ASC Topic 740- Income
Taxes The Company applies a more-likely-than-not recognition
threshold for all tax uncertainties. ASC Topic 740 only allows the recognition of those tax benefits that have a greater than fifty
percent likelihood of being sustained upon examination by the taxing authorities. As of December 31, 2016, December 31, 2015 and
November 30, 2015, the Company reviewed its tax positions and determined there were no outstanding, or retroactive tax positions
with less than a 50% likelihood of being sustained upon examination by the taxing authorities, therefore this standard has not
had a material effect on the Company. The Company does not anticipate any significant
changes to its total unrecognized tax benefits within the next 12 months. The Company classifies tax-related penalties
and net interest as income tax expense. As of December 31, 2016, December 31, 2015 and November 30, 2015, no income tax expense
has been incurred. Recent Pronouncements The Company has evaluated the recent accounting
pronouncements through January 2017 and believes that none of them will have a material effect on the company’s financial
statements. |
